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4370 4 REV 1 APPENDIX 1 FINANCIAL STATEMENTS PACKAGE Hud Form
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People also ask
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Does a board need to approve audited financial statements?
Presentation of the audit report to the board of directors The findings in the report are not subject to change by the board after the report is submitted to the board, consequently, the board's action is not to approve/disapprove, but to accept the report.
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Does HUD require audited financial statements?
HUD requires Borrowers to submit audited financial statements each year to the Mortgagee/Servicer and to HUD. HUD analyzes these financial statements to assess compliance with program requirements, to evaluate the financial strength of the Borrower, and for many other purposes.
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Are audited financial statements required?
Any business that presents its financials to investors or lenders should prepare audited financial statements.
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Where do I get a HUD-1 settlement statement?
The HUD-1 Settlement Statement Call us at (619) 688-0011. Ready to begin? Apply Here. The HUD-1, also known as the settlement statement, is a prescribed form from the U.S. Department of Housing and Urban Development (HUD).
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Does the HUD do audits?
The Office of Audit (OA) conducts audits of HUD operations as well as its program partners that carry out hundreds of HUD programs and activities.
-
Do financial reports need to be audited?
Lenders may require an audit of financial reports if a business seeks a loan. This is part of satisfying the eligibility requirements as well as establish the veracity of the figures presented prior to providing the funding.
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